Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

I'm new to Real Estate Investing and have no money to spend and need to deal with Wholesaling properties.

I've spent over $11K on education and have read Dean's book "30 days to Real Estate Cash" and watched the videos on the 25-1 filter system to use with RE Agents. I now have a handfull of cash buyers and I have an investor friendly RE Agent. I'm trying the 25-1 method that Dean and Matt Larson says to use.

I live in Jacksonville, FL (one of the largest cities in the US) and using this 25:1 system, my "investor friendly" agent was only able to track down 4 listings in the MLS that fit the criteria out of 6 zip codes. In addition, they are all REOs and Auctions.

Hey everyone, we have a house that the sons are trying to sell us. Their mother died a few years ago but they never had anything changed over. They haven't kept up with the payments and the bank is about to foreclose but told them that they had until the end of the month to figure something out. The mothers name is the only one on the deed and mortgage. The bank said they would work with them to get it sold but how can we get a clean title? What do they need to do legally to sell us this house? THANKS

What is the process in buying Short Sales Properties? As a wholesaler what is required of me, to be able to sell a Short Sales Property to a buyer? I have buyers interested in purchasing short sale properties, but I am not sure what has to done or how.

I found a mobile home for sale, seller is motivated. Problem is park is closing in 2 years. The home would cash flow nicely giving me 50%-80% ROI in 2 years. Then the park would destroy it for free or I could move it.Should I pull the trigger?

This article and associated map helps show where the problems still are with foreclosures:

http://blogs.marketwatch.com/capitolreport/2014/07/31/a-state-by-state-m...

Enjoy!!

As Dean teaches...

YOU must set Goals

YOU must create a Plan to reach the Goals

YOU must Learn Values (rents,sales, etc)

YOU must build your Buyers list And USE the forms to collect the info needed (go to auctions)

YOU must PICK ONE area of investing:
Wholesaling
Buy,hold and rent, rehab/flip
Storage
Car washes, Laundry mats, billboards or whatever, just Pick ONE and focus and Learn ALL you can on just THAT!!

Once you've done this you can learn the values and build your buyers list to get you started matching up deals with the Buyers.

RUN the Numbers! This IS the ONLY way you will ever be able to KNOW if its a deal or NOT and present it to your buyers OR make an educated decision to buy or walk.

You WILL need the free tool below.

I have begun working for a company that is purchasing Residential Lots. We are investors, so there are criteria that I am following.

Basically, I'm looking for residential lots that meet this criteria,

Up to 2 acres.

Sold Comps are to be between 400K and 1.5 million. AND above 175 per sq/foot.

5 Comps within 3 miles sold in the last 12 months. Most relevant.

We will pay up to 15% of the comps average. Also 10% below list price.

For example Average comp is 1 million, asking price is 150k for the lot, highest offer will be $135K.

We ask for a 10 business day inspection period, followed by 30 day closing for all cash. If financing is available, then by all means we'll discuss that.

Equity: $21,800
Property Type: Single Family House
After Repaired Value: $67,000
Cost of Repairs: $10,000
Asking Price: $35,200

If the equity amount is the same as the profit potential, is this a good property to buy? It seems as though the only money you would make off this property is equity? Is that assumption correct?

Hello DG Family,

Do you thinks it's a good idea to start a company before you start wholesaling? Or, wait until you are doing multiple deals a month.

Take it from a prospective of a beginner just starting out and not having one deal under their belt yet.

Thanks for all the comments in advance.

Hi there~

This is Dorthy from Las Vegas, NV. I am very new to RE investing... Is there anything I can do for a seller that has filed chapter 7 BK, and owns 2 properties that he is upside down on? (both properties are included in bankruptcy) Homes are going up for trustee sale 7/31/14 due to unpaid hoa fees. I would REALLY like to help these nice people. Thank you, any feedback is appreciated!